The new Ethereum (ETH)-based USD-pegged stablecoin is getting a boost from one of the world’s largest crypto exchanges.
Ethena Labs offers a wide range of products and services. announced USDe (the stablecoin) of Ethena is now available.ENA) ecosystem, is being integrated by Bybit, the third largest crypto exchange by trading volume.
“We are excited to share one of the most important developments for USDe adoption to date.
As of this week, USDe will be integrated throughout Bybit, beyond the current USDe/USDT spot pair.
These include:
USDe as a collateral asset to trade perpetual futures, allowing Bybit users to potentially earn a yield paid by Bybit on their USD-pegged collateral while trading any of your favorite tokens including BTC, ETH, SOL and ENA.
BTC and ETH – USDe zero-fee spot pairs
USDe launch within the Bybit’s ‘Earn’ platform”
USDe, as explained in this post, will be used by Bybit to secure perpetual futures and as a trading pair of Bitcoin.BTCEarnings program on the Trading Platform.
Ethena Labs describes USDe as the first scalable synthetic currency in the industry. USDe aims at maintaining its USD peg by using ETH and BTC as backing.
ENA is currently trading at $0.954 and has dropped 2.8% since the announcement made this morning. ENA has risen 9% over the past 24 hours.
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